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<h1>Shares and Debentures Classified as Long-Term Specified Securities Under Section 54EA of Income-tax Act, 1961</h1> The Central Board of Direct Taxes has designated certain shares and debentures as long-term specified securities under Section 54EA of the Income-tax Act, 1961. These include shares and debentures issued by a public company, with a specified issuance amount, which are non-transferable for three years post-allotment. Investments must be made from the net consideration of a long-term capital asset transfer. If the securities are transferred or converted into money within three years, the initial investment will be taxed as 'Capital Gains.'